WAYNE Swan is a tougher Treasurer than Peter Costello was in the final term of the Howard government, when the massive proceeds of the first mining boom were being passed on to voters as generous handouts. If Labor were spending at the same rate as the Coalition was then, the budget would be heading for a deficit of more than $20 billion in 2012-13, rather than a surplus of $3.5bn. New analysis of fiscal policy going back to the 1970s contains a shock for voters who generally rate the Coalition as the better economic manager. In fact, Labor treasurers have been more frugal, with Paul Keating the only treasurer to cut government spending in real terms, when the economy was growing in the second half of the 1980s. theaustralian.au/national-affairs/alp-best-manager-of-money-history-shows/story-fn59niix-1226056371414
Posted on: Thu, 12 Sep 2013 10:18:48 +0000
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